6.B.(1)&(2) Staff report 118 N. Main St.

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~- ,~ ~~~ ~r~z ~ Community & Economic D e v e l o p m e n t 12CC County-Cihy Buildi~,~g, 2?7 Wesi Jefferson. South Bend, lndic~na 46601-1830 Phone 574/235-9371 Tv: Rcdc~clopment Commission Frvm: Icnnii~cr Law~cnt Subject: IMS Parking Lot Disposition Date: December 16. ?U08 o~ ~ ,_~ ~~ ,~>;. ~,, ~, ~,_ w~ fax S7a/2359021 On .lone 3"~ the Commission c~ipprovul an option agreemuit fur purchase of the property at 118 N Main St, the surface Parking Lot o~~mcd by Mary Coyne lm~estments. Inc., adjacent to the historic ,IMS Oftice Building. l~hc Commissions interest in the property is related to parkin~~ assembly for a proposed rede~clopmcnt of the .IMS building. At that time it ~~~as agreed that the Commission ~~~ould secure an Option on the property and dispose of it through the public disposition process. setting an offering price eyunl to the Conunissions ne~~otiated purchase price. On November =3a, the Commission appro~~ul an offer to purchase the properly tar that price, 5200.000. from John Freidlinc. and directed statl~and Icgal counsel to prepare a contract for sale of land. The contract is presented for your approval today. To Commission rc Contractdoc What We Do Today Makes A Dlffe-enCe!